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Allied Market Research

Cross Laminated Timber Market: Global Opportunity Analysis and Industry Forecast, 2021–2030

A11967
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Aug 2021 | 77 Views
   
Author(s) : Onkar Sumant
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COVID-19

Pandemic disrupted the entire world and affected many industries.

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Cross-laminated timber (CLT) is an engineered wood product that is quickly gaining favor as a sustainable alternative to concrete and steel construction in commercial and multi-family applications across the world. Multilayer panels consisting of solid wood planks that have been piled crosswise and bonded together make up the system. Rigidity, dimensional stability, and mechanical characteristics are all improved by the cross-laminated arrangement. CLT panels can be used as walls, floors, roofs, and other applications, with structural performance equivalent to concrete or steel. Because CLT panels are robust and rigid, they may be utilized in a variety of applications. It is now utilized for a wide range of structures, including houses, barns, powerline towers, churches, and bridges, as well as high-rise residential and office buildings, enhancing the system's prominence and repute. The worldwide cross-laminated wood market is expected to increase rapidly over the next five years, according to IMARC Group.

Market scope and structure analysis:

Report Metric

Details

  Market size available for years

  2020–2030

  Base year considered

  2020

  Forecast period

  2021–2030

  Forecast units

  Value (USD)

  Segments covered

  Raw Materials, Press Type, Application, and Region

  Regions covered

North America (US and Canada), Europe (Germany, UK, France, and the Rest of Europe), Asia Pacific (China, Japan, India, and the Rest of Asia Pacific), Latin America (Brazil, Mexico, and the Rest of LATAM) and The Middle East and Africa

  Companies covered

Stora Enso, Binder Holz, KLH Massivholz, Mayr-Melnhof Holz Holding AG, and Hasslacher, Kattera, Derix Group, Smart Lam, Eugen Decker and Schillinger Holz AG

 

COVID-19 Impact Analysis:

  • COVID-19 pandemic has shut-down the production of various products in the Cross-laminated timber industry attributed to the lockdown in countries worldwide. This has hampered the growth of market from the last few months, and is likely to continue during 2021.
  • COVID-19 has already affected the sales of Cross-laminated timber in the first quarter of 2021 and is anticipated to cause a negative impact on the market growth throughout the year.
  • The major demand for Cross-laminated timber was previously noticed from giant manufacturing countries including the U.S., Germany, Italy, UK, and China, which are badly affected by the spread of the coronavirus, thereby halting/decreasing the demand for Cross-laminated timber.
  • Further, potential impact of the lockdown is currently vague and financial recovery of companies is totally based on its cash reserves. Cross-laminated timber companies can afford a full lockdown only for a few months, after which the players have to modify their investment plans.
  • Cross-laminated timber manufacturers are expected to focus on protecting their workforce, operations, and supply chains to respond toward immediate crises and find new ways of working after COVID-19

Top impacting factors: Market Scenario Analysis, Trends, Drivers, and Impact Analysis

The cross-laminated timber industry is experiencing growth owing to expanding building activity and demand from the education sector, as well as residential and non-residential uses, which is placing strain on existing materials supply and forcing developers to explore for faster alternatives like CLT. It may be utilized as a substitute for steel, concrete, and masonry in a variety of construction types because to its dimensional stability and great strength. It is more cost-effective and environmentally beneficial since it generates less greenhouse gases, and it is simple and quick to build since it is prefabricated. It also allows for more design freedom because it is light weight and robust. By the conclusion of the forecast period in 2027, the market for Cross Laminated Timber is expected to have grown at a CAGR of 12.51 percent. Growing knowledge of sustainable architectural practices, as well as an increase in the number of cross-laminated wood companies and interest in green houses, are all contributing to market expansion.

The global cross-laminated timber market trends are as follows:

Require shorter period of construction time

The cross laminated wood take less time to build than structures made of standard building materials like concrete and bricks. This is partly due to its minimal weight and simple and quick installation. CLT provides a cheaper alternative to other common construction materials such as precast concrete because to its shorter construction time and lower built-up costs. CLT can be utilized for the whole structure or for any mix of walls, floors, ceilings, and roofs. Its light weight and other features make it appropriate to a wide range of projects, designs, and site situations, such as soft soils or close proximity to existing structures. CLT components may also be mixed with other construction materials, giving architects greater options in terms of form, style, and finish. Furthermore, with the use of basic instruments, any adjustment in CLT may be accomplished on-site.

Dominance of Adhesive Bond in market

Adhesive bond provide higher bond strength and is less affected by environmental conditions as compared to mechanical fasteners, adhesive bonded CLT is utilized on a larger scale in the market. Another reason behind the dominance of adhesive Bonded segment in this market is that cost of adhesives is slightly lower than the mechanical fasteners which lower the cost of manufacture of adhesive bonded CLT as compared to mechanically fastened CLT. Due to its aesthetic appeal and architectural flexibility, demand for wooden residential buildings such as single-family homes and multifamily flats is expanding. Cross laminated wood structure's better fire resistant and earthquake-proof properties are likely to boost market growth throughout the projection period.

Key segments covered:

Segments

Subsegments

 Raw Materials

  • Spruce
  • Fir
  • Pine
  • Larch

  Press Type

  • Hydraulic
  • Vacuum
  • Pneumatic
  • Nails

  Application

  • Residential
  • Commercial
  • Others

  Region

  • North America
  • Europe
  • Asia-Pacific
  • LAMEA

 

Key benefits of the report:

  • This study presents the analytical depiction of the global cross-laminated timber industry along with the current trends and future estimations to determine the imminent investment pockets.
  • The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global cross-laminated timber market share.
  • The current market is quantitatively analyzed from 2021 to 2030 to highlight the global cross-laminated timber market growth scenario.
  • Porter’s five forces analysis illustrates the potency of buyers & suppliers in the industry.
  • The report provides a detailed global cross-laminated timber market analysis based on competitive intensity and how the competition will take shape in coming years.

Questions answered in the Cross-Laminated Timber Market report:

  • Who are the leading market players active in the cross-laminated timber industry?
  • What would be the detailed impact of COVID-19 on the industry?
  • What current trends would influence the market in the next few years?
  • What are the driving factors, restraints, and opportunities in the cross-laminated timber industry?
  • What are the projections for the future that would help in taking further strategic steps?
 
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